How We Encourage Business in Our Community
Lynches River Electric Cooperative is committed to strengthening the communities we serve by retaining current business customers and attracting new industrial and commercial businesses to our service areas in Chesterfield, Lancaster and Kershaw counties. We strive to provide reliable electricity at an affordable rate to all our members. Our linemen and our professional staff are top-notch by demonstrating excellent service to our members.
Lynches River Electric Cooperative works not only with our local County Economic Development boards but with South Carolina Department of Commerce, North Eastern Strategic Alliance (NESA), and South Carolina Power Team to recruit new industries to our communities which in turn creates jobs and new opportunities for our members. There are available properties for new industries within all our 3 county service areas. LREC has incentives available to help recruit new industries to our areas as well as assisting existing industries with an expansion. Each project is evaluated for qualifying incentives through our sources. We also work with our partners to help identify other incentive sources for prospective new industries or expansion projects for existing industries. Some of our incentives include:
Incentives
Grants
The SC Power Team and Lynches River Electric Cooperative can combine grant funds to incentivize a strong electrical user on our system. Project grants are awarded according to electricity load, job creation, and investment.
Incentivized Electric Rates
Rates can be determined by the load factor of the industry. If the industry meets the threshold of a large power user, an incentivized rate is provided from five (5) to eight (8) years depending on the load. When the industry provides the load, then LREC along with Central Electric Power Cooperative will determine the discounted rate.
Utility Tax Credits (UTC)
LREC has UTCs available in accordance with the SC Department of Revenue. Eligible expenses may be processed through the County or used directly for a project in our service area. Eligible expenses include infrastructure improvements, construction and up-fits to County buildings, or a land purchase that will be county-owned. The County must make all reporting to the SC Department of Revenue according to their UTC guidelines.
Rural Economic Development Loans (REDL)
The USDA (Unites States Department of Agriculture) funds projects in rural areas. Under this program, USDA provides zero-interest loans to local utilities for 10 years. The local utility acts as the intermediary and passes it through to eligible projects as a loan to be repaid to the local utility. There is no more than a 1% annual service charge on the outstanding principal balance of the loan. Learn more about the Rural Economic Development Loan & Grant Program from the USDA.
Economic Development Partners' Websites
Available Economic Sites
Industrial Park
U.S. Highway 601
Pageland, SC 29728
